Great Eastern Holdings (GEH) announced on Wednesday (28 Aug) that it has appointed Greg Hingston as its new Group Chief Executive Officer (Group CEO) of the Great Eastern group of companies.
Hingston will assume the role on 1 November 2024 and succeeds current CEO Khor Hock Seng, who is set to retire on 31 October.
Hingston brings over 20 years of experience in Asia, primarily in Hong Kong, to Great Eastern, including the last 18 years at HSBC, where he held various senior executive roles across retail banking, wealth management, and life insurance. Most recently, he was serving as Chief Executive Officer of HSBC Global Insurance and Partnerships.
In a statement, Great Eastern said that the Nominating Committee (NC) had considered both internal and external candidates for the Group CEO position and that Hingston was selected following a rigorous selection process.
Soon Tit Koon
Chariman of Great Eastern HoldingsChairman of GEH, Soon Tit Koon, welcomed Hingston, commenting, “We wish to extend a warm welcome to Greg. The Board and I look forward to working closely with him.”
“We are confident that with him at the helm, Great Eastern Group would be well positioned to continue strengthening its leadership position in Singapore and Malaysia, and further expand our insurance franchise in the region,” Soon added.
Hingston expressed his enthusiasm for his new role, stating, “I am deeply honoured and humbled to be given this opportunity to lead the Great Eastern Group. I recognise the huge responsibility that comes with the Group CEO position of this insurance group, with its rich legacy and strong franchise in Asia.”
Khor has been serving as Group CEO for nine years, under which Great Eastern Group’s total assets grew from SG$65.8bn at the end of 2015 to SG$109bn at the end of 2023 and its gross premiums increased from S$8.7bn to S$16.3bn.
Soon praised the retiring CEO’s contributions, noting, “The Board has enjoyed working with Hock Seng over the past nine years and thank him for his stellar contributions to the Great Eastern Group. On behalf of the Board, I wish to express our deep appreciation to Hock Seng for his strategic leadership, commitment, and contribution and wish him well in his retirement.”
Soon added that Khor will serve as an advisor to the Board for six months to help ensure a smooth transition.
Reflecting on his tenure, Khor said, “I am grateful for the wise counsel and consistent support of the Board throughout my years with the Great Eastern Group. I also extend my heartfelt appreciation to all my colleagues and financial representatives, for their support and dedication.”
